Meniga joins Nexi Open

Nexi, the leading Italian PayTech in digital payments, signs a partnership with Meniga, the world’s leading fintech in the development of personal & business financial management solutions.

According to the agreement, Meniga is the first company to collaborate with Nexi to develop a portfolio of digital financial management services aimed at strengthening bank-customer relationships. Nexi’s partner banks will therefore be able to offer Meniga’s PFM and BFM services, enhanced by the new features of access to customer accounts and money transfer between accounts governed by PSD2 regulations.

Meniga’s PFM and BFM services can, at the discretion of each bank, be integrated directly into a bank’s digital properties (internet banking, mobile apps, etc) or delivered to the clients as standalone solutions.

Credit institutions will be able to provide individual customers with the advanced features of a Personal Financial Manager, while small businesses will be able to access the services of a Business Financial Manager.

Specifically, the PFM for individuals allows them to have a clear view of their finances, aggregating the transactions from several current accounts into a single view, to categorize income and expenses with specific financial items, to be promptly informed about any exceeding of their budget limits, thus promoting the definition of personal savings objectives. In addition, it allows you to top-up your account by debiting accounts held at other banks and more.

The BFM, on the other hand, facilitates the financial management of a small business or a small merchant since it allows the aggregation of transaction information in the company’s multiple current accounts. Moreover, the typical functionalities of a BFM represent a valid “digital CFO” for the bank’s SME customers, thanks to the easy consultation of financial information, the simplification of operational and accounting activities, the advanced cashflow management, the possibility to manage budgets and savings and the accessibility to valuable insights.

“The collaboration with Meniga allows us to further support Italian banks that want to offer their customers new digital services of financial management, enhanced thanks to the access to accounts enabled by open banking – comments Renato Martini, Head of Digital Banking Solutions of Nexi – The institutions of our country, from today, will have a service that strengthens the engagement and relationship with the customer and  offers solutions tailored to the needs of individuals, thus allowing a deeper knowledge”.

“We are very happy to announce our partnership with Nexi. Combining our companies’ individual expertise, and with Nexi’s local network, we can now provide customers right across the region with unrivalled products that we know will excite their end-users, be they businesses and merchants or individuals. Providing the right financial management services will help Nexi’s partner banks ensure that their customers get the support they need when they need it – and all within the bank’s own digital infrastructure.”- comments Georg Ludviksson, CEO and co-founder of Meniga.

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Georg Ludviksson Meniga Nexi Renato Martini

Author: Lauren Towner

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